Canadian National Railway (NYSE:CNI) Price Target Lowered to $97.00 at Barclays

Canadian National Railway (NYSE:CNI) (TSE:CNR) had its price objective reduced by Barclays from $99.00 to $97.00 in a research note released on Thursday morning, Marketbeat reports. They currently have an equal weight rating on the transportation company’s stock.

A number of other research firms also recently issued reports on CNI. Argus upgraded shares of Canadian National Railway to a “hold” rating in a report on Friday, June 27th. Wells Fargo & Company lowered their target price on shares of Canadian National Railway from $120.00 to $117.00 and set an “overweight” rating for the company in a report on Wednesday, July 23rd. Evercore ISI downgraded shares of Canadian National Railway from an “outperform” rating to an “in-line” rating and set a $105.00 target price for the company. in a report on Wednesday, July 23rd. Bank of America lowered their target price on shares of Canadian National Railway from $106.00 to $102.00 and set a “neutral” rating for the company in a report on Monday. Finally, Citigroup reduced their price target on shares of Canadian National Railway from $124.00 to $123.00 and set a “buy” rating on the stock in a research report on Wednesday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $116.69.

Canadian National Railway Stock Performance

Shares of NYSE CNI opened at $94.42 on Thursday. Canadian National Railway has a 12 month low of $91.07 and a 12 month high of $116.79. The company has a 50-day simple moving average of $94.35 and a 200-day simple moving average of $99.02. The company has a market cap of $58.61 billion, a PE ratio of 18.16, a price-to-earnings-growth ratio of 2.11 and a beta of 0.96. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.82 and a quick ratio of 0.58.

Canadian National Railway (NYSE:CNI) (TSE:CNR) last released its earnings results on Tuesday, July 22nd. The transportation company reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). Canadian National Railway had a net margin of 26.63% and a return on equity of 21.71%. The company had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $4.34 billion. During the same quarter in the previous year, the firm posted $1.84 earnings per share. Canadian National Railway’s revenue for the quarter was down 1.3% compared to the same quarter last year. On average, equities analysts anticipate that Canadian National Railway will post 5.52 earnings per share for the current year.

Canadian National Railway Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 8th were given a dividend of $0.6507 per share. The ex-dividend date of this dividend was Monday, September 8th. This is an increase from Canadian National Railway’s previous quarterly dividend of $0.62. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.8%. Canadian National Railway’s dividend payout ratio is presently 50.19%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Bennett Selby Investments LP lifted its position in shares of Canadian National Railway by 2.2% during the second quarter. Bennett Selby Investments LP now owns 4,796 shares of the transportation company’s stock worth $499,000 after purchasing an additional 101 shares in the last quarter. Bruce G. Allen Investments LLC increased its stake in shares of Canadian National Railway by 44.2% in the first quarter. Bruce G. Allen Investments LLC now owns 346 shares of the transportation company’s stock worth $34,000 after buying an additional 106 shares during the last quarter. Heartland Advisors Inc. increased its stake in shares of Canadian National Railway by 0.9% in the first quarter. Heartland Advisors Inc. now owns 12,293 shares of the transportation company’s stock worth $1,198,000 after buying an additional 108 shares during the last quarter. Creative Financial Designs Inc. ADV increased its stake in shares of Canadian National Railway by 13.4% in the second quarter. Creative Financial Designs Inc. ADV now owns 929 shares of the transportation company’s stock worth $97,000 after buying an additional 110 shares during the last quarter. Finally, IFP Advisors Inc increased its stake in shares of Canadian National Railway by 3.3% in the second quarter. IFP Advisors Inc now owns 3,582 shares of the transportation company’s stock worth $373,000 after buying an additional 115 shares during the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

About Canadian National Railway

Canadian National Railway Company, together with its subsidiaries, engages in the rail, intermodal, trucking, and marine transportation and logistics business in Canada and the United States. The company provides rail services, which include equipment, custom brokerage services, transloading and distribution, business development and real estate, and private car storage services; and intermodal services, such as temperature controlled cargo, port partnerships, and logistics parks.